Floods inflict Q4 loss on Thai Airways

Thai Airways has warned that it anticpates a net loss of THB5 billion baht (USD$157 million) in the fourth quarter, a loss deepened by the devastating floods that hit Thailand last year. The airline’s president, Piyasvasti Amranand, revealed that weakening passenger numbers were also a factor.However, there are signs of recovery as the airline’s cabin factor has risen to approximately 76-78% from an average just 70% in 2011. There are also plans to cut the salaries of top executives, a move that will save around THB600 million baht a year in operating costs.Reuters[pictured: Thai Airways cabin crew]